Stocks To Watch Today: JSW Steel, RIL, Cipla, Hero MotoCorp, SBI & More

Friday's top 10 stocks, which include SBI, LTI Mindtree, Hero MotoCorp, RIL, and Lemon Tree Hotels, are expected to be on market observers' radars on December 15.

SBI

State Bank of India has executed transaction documents for the purchase of 3,70,644 shares (6.35%) of Canpac Trends Private Limited at a price of Rs 1,349 per share. The investment is being made with an objective of capital appreciation.

Hero MotoCorp

The company has appointed Mr. Vivek Anand as the Chief Financial Officer (CFO) of the Company effective March 1, 2024. The company has also purchased additional shares of Ather Energy Pvt. Ltd., an associate company, from an existing shareholder. The transaction of Rs 140 Cr is proposed to be made on an arm's length basis.

Currently, Hero MotoCorp's shareholding in Ather is 36.7% (on a fully diluted basis) of the paid up share capital of Ather. Post the purchase of additional shares, the company's shareholding in Ather would increase to 39.7% (on a fully diluted basis) of the paid-up share capital of Ather.

Jupiter Wagons

Jupiter Wagons has announced that the Ministry of Railways has awarded it a major contract to manufacture and supply 4000 BOXNS wagons. With an astounding value of Rs. 1,617 crores, the prestigious contract demonstrates Jupiter Wagons' dedication to providing excellent railway solutions that match the evolving demands of the Indian Railways. In particular, the order calls for the manufacture of 4000 BOXNS wagons, which are categorised as BG Bogie Open Wagons.

Cipla

According to Cipla Limited, it has decided to invest an additional INR 42 crore (approximately) in GoApptiv Private Limited, a digital innovation firm. This move will further extend Cipla's footprint throughout the healthcare continuum, particularly to the underprivileged population by providing more access to life-saving medications, in keeping with Cipla's objective to deepen investments in channels of the future.

Following the closing of this agreement, Cipla will own a fully diluted 22.99% stake in GoApptiv. This is Cipla's third investment in GoApptiv, consisting of a mix of compulsorily convertible preference shares and equity shares.

Reliance Industries

The credit grade of "Baa2" with a "Stable" outlook has been reaffirmed by Moody's for the company's senior unsecured US$ denominated fixed rate notes.

JSW Steel

A body corporate and politic organised and existing under the laws of the State of Ohio, the Jefferson County Port Authority, anticipates issuing on or around December 20, 2023, its Economic Development Revenue Bonds (JSW Steel USA Ohio, Inc. Project), Series 2023, with a principal amount of $145,000,000. The proceeds of this offering will be used to fund a loan to JSW Steel USA Ohio, Inc., a wholly-owned indirect subsidiary of JSW Steel Limited.

The bonds will have a 5.00% initial coupon, which is subject to repricing on December 1, 2028. They will have a tenor of about thirty years. The company has committed to offering a guarantee on behalf of JSW Ohio in connection with the issuing and sale of the Bonds, which will be used to ensure the Bonds' repayment. Moody's Investor Service has assigned a rating of Ba1 (Stable) to the Bonds.

Lemon Tree Hotels

Lemon Tree Hotels Limited announces the opening of Lemon Tree Hotel, Hisar. This is the tenth property of the group in Haryana, as per a stock exchange filing.

Ami Organics

Ami Organics and Fermion, a completely owned subsidiary of Orion Corporation, Finland, have inked yet another binding contract. Ami Organics will produce a few more sophisticated pharmaceutical intermediates for Fermion as per the terms of the deal.

Rites

RITES has opened a Branch Office in the country of Guyana, to take the advantage of varied business opportunities available in Guyana.

LTIMindtree

As part of its strategy to broaden its footprint in Latin America, LTIMindtree opened a new delivery hub in Mexico City. Localization and workforce transformation for LTIMindtree in the Americas will be made possible via the Delivery Center.

On December 14, 2023, the Center was officially opened by His Excellency, Pankaj Sharma, the Indian ambassador to Mexico; Fadlala Akabani, the Mexican minister of economy; Rajeev Jain, the executive vice president and global head of operations of LTIMindtree; Greg Dietrich, the executive vice president and head of regional Americas delivery; and Anurag Tripathi, the associate vice president of LTIMindtree.

Telecom, Media & Entertainment, Manufacturing, Hi-Tech & Services, Banking & Financial Services, and RCG are just a few of the sectors in Mexico where LTIMindtree has clients. Currently, the firm serves over 70 Fortune 500 organisations and has twelve offices around the Americas.